Tbilisi: The representative of the prosecution office of Georgia has booked one natural person and one legal entity for committing the fraud. They are accused of money laundering a huge amount.
According to the information they fraudulently misappropriated a large amount of money belonging to a citizen of a foreign country and legalized illegal income through wrong means. It is to be added that according to the investigation conducted by the Prosecutor’s Office it was established that the criminal group members conspired with each other to contact Australian citizens using electronic means. They promised them to invest a large amount of money in exchange for the losses caused to the investors in the past.
In this way they fraudulently got deposited 53444 euros into the bank account of fictitious enterprise based in Georgia which they unlawfully obtained. Subsequently in order to launder money the accused transferred a large amount of illegal and undocumented funds accumulated in the company’s bank account from Australia with fictitious purposes . He used forged documents to his show it his own company’s bank account in Lebanon in which way he legalized the illegal income of 131,000 euros.
As per the Georgian criminal code criminal prosecution against a natural person was booked for fraud of a large amount by a group with a prior agreement especially for the legalization of a large amount of illegal income. The offense is punishable with a jail term of 9 to 12 years of imprisonment if the accused is found guilty after the trial. The court’s order has already imprisoned the accused as a preventive measure.
On the other hand the legal entity was charged with the fact of legalization of illegal income which may result in liquidation or deprivation of the right to work and a heavy amount of fine as a punishment.
The General Prosecutor’s Office of Georgia is continuing the investigation to identify and expose more members of the criminal group and other individuals or legal entities engaged in similar activities so that the whole racket can be exposed.
